CIMB Thai Bank 9-month profit down

PETALING JAYA: CIMB Thai Bank plc’s group net profit for the nine months ended Sept 30, 2014 fell 6.3% to 900 million baht (RM90.7mil), compared with the corresponding period last year.

In a statement to Bursa Malaysia, the bank said the lower earnings was due to higher operating expenses, which grew by 16.8% to 5,204.7 million baht and the 67.4% year-on-year increase in provisions.